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by Trevor Sturgess, business editor
More than 100 British jobs will be lost after ferry giant SeaFrance was put into liquidation.
SeaFrance - the ferry giant which employs 130 workers in the UK - was given the death knell earlier today.
The decision by a French court follows months of wranglings and failed buyout bids for the stricken firm.
Only today, Channel tunnel operator Eurotunnel launched a last-minute rescue bid for the ailing business.
Eurotunnel proposed to buy the three SeaFrance ferries - now moored in the Port of Calais - and lease them back to a workers' co-operative.
But the bid was rejected today.
SeaFrance employs more than 800 staff in Calais and Dover and maintains a French-owned ferry operation on the busy short-sea route.
The company said in a statment: "SeaFrance is sad to announce that the Tribunal de Commerce in Paris has made the decision to liquidate the company.
"Despite the best efforts of all parties, the court came to the difficult conclusion that none of the options available to it were financially viable.
"Provision has been made to guarantee that all customers with pre-existing bookings will receive refunds."
Anyone wanting to claim back ticket costs should ring 0845 4580666.